Scalping Strategy

[Tzachi]

TR Atomised

Yes we can try to auto' the system.

Set entry based on the indicators with a SL & TP.

The problem is that we will have to find a way for the system NOT to trade around news times in the U.S. the counterpart country.

Exemple:the system will have to trade ONLY beteen 1:00 am 4:15 am 4:45 am 5:50am 6:05 8:15 etc etc for BGP to prevent the effect of news.

I think it can be done.


Tzachi.

[Ray G]

First a disclaimer; I'm a total rookie at this kind of trading though I have worked in the securities industry. So now I'm converting book knowledge into something more immediatley valuable.

I've been trading much like the methods discussed here though without the technical knowledge. Not having setteld on a trading discipline yet it just seemed perfectly natural to me to trade the obviously range bound trends.

If they're at least 8 to 12 pips between 3 to 5 waves grab a few pips head on to the next trade.

Outside of two really stupid trades I've done well enough so far though I'm only trading a mini. Better to work out the mental bugs at a $1 a pip. I was able to catch 11 pips this morning before work it only took me 15 or 20 mins. The morning before I got 15 pips within a half an hour.

[Tzachi]

Ray G

Great job since you keep it simple.

Now if you will be able to gain around the same as today just 11 pips a few times a week on a 1-5 regular lot/s is it ok with you?

I think it will be MORE than just OK to have a return of 5-10% with 100;1 or even 50:1 margin account.

It is not so complicated if you keep it simple.

Tzachi.

[Ray G]

Yeah but simple is all I know. I just ran a couple of trades on USD ps a few pips but they're all flattening out right now.

I'm looking into the different technical strategies I think my trading will be more consistent when I pick up more skill in the technicals.

Right now my mistakes have basically been getting in on the wrong end of a trend. More patience of course much more learning I can minimize my losses greatly.

Keep posting though feedback is everything.

[kyuzo]

i like your attitude when it comes to trading.

i too scalp using joe ross' 123 patterns tte ross hooks with a 20 period bollinger bs on a 5minute chart as my indicator. my target is just 1% of my equity which is about 3-5 pips. when i see a reverse cle i take profits.

best regards

[natebuse]

I also trade off the 1 min chart sometimes the 5min. I usually will only trade the eur/usd around 7:00 - 11:30 or so. My main way I trade is off of s/r levels I also use rsi to confirm my trades. I'm not sure if any of you have used any s/r numbers before but I have been using some www.rdstrader.com. Mike is originally a pit trader at the cbot now trades online helps others traders. I try pull 6-10 pips per trade but also will hold for longer if the market in trending. Then main problem is the trading platforms for forex are not made for scalpers. I'm looking into the institutional platforms that refco fxcm offer to see if they are better.

[Tzachi]

Netebuse

For how long do you trade this way? weekly pl in pips? No indicators to confirme the entry point? What do u use for exit?

"I'm looking into the institutional platforms that refco fxcm offer to see if they are better" -

Same here but I am not sure there is any that will accept an individual trader with less then 500K for institional platform.


Tzachi.

[Ray G]

Another rookie question.

What's the difference between a regular platform an institutional? You mean just having access to more info?